Chesapeake Energy (CHK +1.8%) completes the previously announced sale of a 50% stake in 850K...

Chesapeake Energy (CHK+1.8%) completes the previously announced sale of a 50% stake in 850K acres in Oklahoma for $1B to China’s Sinopec (SNP), and the companies have created a joint venture to operate in the area, sharing exploration and development costs. The area associated with the JV produced 9,600 barrels of liquids and 54M cubic feet of natural gas per day in Q1.